BSE’s RFQ platform for debt securities goes live
Mumbai: February 3, 2020: In its continuous effort to launch new market development initiatives, BSE, India’s leading exchange with a speed of 6 microseconds, has gone live with Request for Quote Platform (RFQ) that enables trade execution and settlement in debt securities. BSE has received the markets regulator SEBI’s approval to launch RFQ in debt securities from February 3, 2020.
RFQ platform is a web-based online trade execution and settlement platform for trading of Corporate Bonds, Commercial Papers, Certificate of Deposit, G-secs, T-bills, State Development Loans, Municipal Bonds and securitised Debt.
This new electronic platform would offer better features and flexibility than OTC markets and will offer lot more transparency and better efficiency. RFQ will be part of BSE’s existing reporting and settlement platform NDS-RST for corporate debt securities.
Some of the salient features of the new electronic platform are listed below:
· State of the art web-based trading platform
· Easy registration process
· Role based User management and counterparty-based risk management features
· Auto-flow of the executed trades in corporate bonds for settlement
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualized entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, commodity derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives trading in Gold, Silver, Copper, Oman Crude Oil Guar Gum, Guar Seeds & Turmeric.
BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.
Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.
BSE has set up an Investor Protection Fund (IPF) on July 10, 1986 to meet the claims of investors against defaulter Members, in accordance with the Guidelines issued by the Ministry of Finance, Government of India. BSE Investor Protection Fund is responsible for creating Capital markets related awareness among the investor community in India.
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